BAROMETERS TRADE WITH TINY GAINS; BREADTH STRONG

The key equity benchmarks traded with small gains in early trade. The Nifty traded above the 22,800 level. Metal, realty and media shares advanced while IT, Pharma stocks corrected.

At 09:30 IST, the barometer index, the S&P BSE Sensex, advanced 42.94 points or 0.06% to 75,344.20. The Nifty 50 index added 6.35 points or 0.03% to 22,840.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.65% and the S&P BSE Small-Cap index added 1.20%.

The market breadth was strong. On the BSE, 2,411 shares rose and 597 shares fell. A total of 127 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 694.57 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,534.75 crore in the Indian equity market on 18 March 2025, provisional data showed.

Stocks in Spotlight:

GR Infraprojects jumped 8.63% after the company received letter of acceptance from the National Highways Authority of India (NHAI) for a project worth Rs 4,262.78 crore. The project involves the construction of the Agra-Gwalior Greenfield road in Uttar Pradesh, Rajasthan, and Madhya Pradesh on a DBFOT pattern under the BOT (Toll) Mode, as part of the NH(O) scheme.

Bajaj Auto rose 0.51%. The company�s board approved the re-appointment of Rajivnayan Rahulkumar Bajaj as the managing director (MD) and chief executive officer (CEO) for another five years from April 1, 2025.

Zydus Lifesciences rose 0.57%. The company has received final approval from United States Food and Drug Administration (USFDA) to manufacture Apalutamide tablets, 60 mg. Apalutamide is an androgen receptor inhibitor used for the treatment of patients with metastatic castration-sensitive prostate cancer.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper advanced 1.50% to 6.770 as compared with the previous close of 6.783.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.6600, compared with its close of 86.5600 during the previous trading session.

MCX Gold futures for the 4 April 2025 settlement were rose 0.23% to Rs 88,928.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.08% to 103.33.

The United States 10-year bond yield rose 0.44% to 4.300.

In the commodities market, Brent crude for May 2025 settlement shed 21 cents or 0.30% to $70.35 a barrel.

Global Markets:

US Dow Jones index futures were up 47 points, indicating a positive opening in US stocks today.

Most Asian stocks traded higher on Wednesday, amid persistent cheer over more stimulus measures in China. However, investors remained cautious about potential further tariff actions by U.S. President Donald Trump, who reiterated threats of reciprocal trade tariffs beginning in early April. Additionally, attention was focused on negotiations for a U.S.-brokered Russia-Ukraine peace deal.

Japanese markets were in focus for investors as the Bank of Japan kept interest rates steady at 0.5%, in line with expectations, while assessing the potential impact of U.S. President Donald Trump�s tariffs.

Traders kept a close eye on interest rate decisions by U.S. Federal Reserve later in the day.

Japan�s trade balance increased less than anticipated in February, amid heightened concerns regarding U.S. trade tariffs. Trade balance rose to a surplus of 584.5 billion yen ($3.91 billion), according to government data released on Wednesday. The print improved from a deficit of 2.76 trillion yen in January. The softer surplus was largely due to weaker-than-expected export growth. Exports grew 11.4% year-on-year, up from the 7.3% pace seen in January.

U.S. indices declined on Tuesday, as a two-day rebound from six-month lows largely dissipated. Tech losses contributed to the decline, as did ongoing concerns regarding higher Trump tariffs and a potential recession. At the close in NYSE, the Dow Jones Industrial Average declined 0.62%, while the S&P 500 index declined 1.07%, and the NASDAQ Composite index fell 1.71%.

Trump reiterated his threats to enforce reciprocal tariffs against major U.S. trading partners from April 2. He also reiterated plans for automobile and commodity tariffs. Trump has warned of some near-term economic turbulence as he carries out his agenda. Investors fear that trade-related disruptions will undermine U.S. economic growth.

Among tech decliners, NVIDIA Corporation declined by more than 3%, continuing a recent downturn, despite CEO Jensen Huang`s statement that the chipmaker is well-positioned to capitalize on the shift in artificial intelligence toward inference from training. The stock fell 0.6% in after-hours trading.

Tesla Inc. recovered 1.2% in after-hours trading, following a 5.3% decline during the session, amid ongoing concerns regarding slowing sales, a deteriorating brand image, and growing public outrage over CEO Elon Musk�s interactions with the Trump administration.

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